host: ron tweets in -- guest: the foreclosure inventory remains large. it has been diminishing in the past couple of years. the peak was in 2010. 2011 was lower. we have about 22% of all transactions classified as distressed, either short sells. it had been one third of all transactions a couple of years ago. the distressed property transaction went even further next year, maybe 10% or 15% of all transactions. we are not back to normal by any means. host: we have a tweet from liz smith. guest: the market has recovered. the factors that contribute to the recovery helped. the job creation and the bursting out of household formation. this is where many of the adults are living with their parents. that is reducing housing demand. we're seeing many young adults branching out. sometimes they are going into rentals. people do not want to pay higher rents. host: vincent in connecticut. caller: good morning. thank you for appearing. i refinanced this last spring and summer and it was a spectacular success. there was a real savings of about $360 a month which is n